One Rock racks up $964 mln for sophomore fund

New York and Los Angeles-based One Rock Capital Partners, a middle-market private equity firm, has closed its second fund at a hard cap of $964 million, sweeping past its $700 million target.

One Rock Capital Partners II LP launched in mid-January and closed on March 31.

The fund will focus mostly in the manufacturing, chemicals, industrial business services and auto retail sectors.

Fund II’s limited partners include government and corporate pension plans, insurance companies, health organizations, endowments and foundations, and high-net worth families.

In 2014, One Rock closed its inaugural fund at $431.5 million, as previously reported by PE HUB. No performance data was available on the fund.

Moelis & Company LLC and Mitsubishi Corporation Asset Management Ltd served as placement agents for the fund while Debevoise & Plimpton LLP provided legal advice.

According to the firm, One Rock, which was launched in 2010, is currently managing $1.4 billion in assets.

Studio shot of a handsome young businessman surrounded by falling money. Photo by shapecharge/iStock/Getty Images